USDC Treasury just issued over 64 million USDC on the Ethereum network.
The amount of USDC minted is approximately valued at 64.44 million USD, according to data from Whale Alert published on August 8.
MAIN CONTENT
USDC Treasury minted 64,457,620 USDC on Ethereum.
Valued at approximately 64.44 million USD.
Information recorded through Whale Alert tracking tool.
How much USDC did USDC Treasury mint on Ethereum?
USDC Treasury has accurately issued 64,457,620 new USDC on the Ethereum network, according to a report on August 8.
This event was recorded by Whale Alert, a service specializing in tracking large on-chain transactions. This is a large figure, reflecting the stable money supply of USDC in the Ethereum cryptocurrency ecosystem.
Minting USDC typically occurs to increase liquidity and meet trading demands while keeping the Token's value stable, as each USDC is backed by corresponding assets.
What is the equivalent value of the minted USDC?
The newly issued USDC is valued at approximately 64.44 million USD at the time of minting.
This figure is calculated based on a fixed exchange rate of 1 USDC to 1 USD, ensuring stability in using USDC as a leading stablecoin in the cryptocurrency market.
The large-scale issuance indicates an increased demand for liquidity and an expansion of USDC usage in DeFi activities and Token trading on Ethereum.
Where is the data on USDC issuance verified from?
The Whale Alert tool is an accurate source for tracking minting and burning activities of Tokens on blockchains, including Ethereum.
When USDC Treasury issues new Tokens, Whale Alert records the transaction and provides public, transparent information to the community.
Specific information about the minting event on August 8 was widely published to enhance reliability and transparency for cryptocurrency users and investors.
"USDC minting actions are carried out to maintain the necessary stability and liquidity for the cryptocurrency market."
Quoted from a Blockchain finance expert, 2024
Frequently Asked Questions
What is USDC?
USDC is a stablecoin backed 1:1 by the USD, popular in cryptocurrency transactions due to its price stability.
How does minting USDC affect the cryptocurrency market?
Minting USDC helps increase liquidity and meet trading demands while maintaining USDC's stable value, supporting the DeFi market.
How to verify USDC minting events?
Minting transactions are monitored and publicly disclosed by tools like Whale Alert based on transparent blockchain data.
What is special about minting USDC on Ethereum?
Ethereum is the most popular platform for USDC, so minting on this network helps the Token easily interact with DeFi and DApps.
Does minting USDC cause inflation for this Token?
No, USDC is tightly controlled with corresponding asset reserves, so the amount minted will not cause uncontrolled inflation.
Source: https://tintucbitcoin.com/usdc-treasury-phat-hanh-6445-trieu-usdc/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
